Russian President Vladimir Putin said on Thursday that Russia is ready to invest $1.4 billion to continue the development of the TurkStream pipeline stretching to European states via Serbia.

He also stressed that Russia was prepared to carry out projects that would allow for the extension of TurkStream, adding that many sides showed interest in such a prospect.

“With regard to energy issues, we are ready to implement projects to extend the TurkStream to European countries, to European consumers. Many show interest in this, and all we need is to arrange everything accordingly,” Putin said at a joint news conference with Serbian President Aleksandar Vucic in Belgrade.

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